Monthly Top 5 ORX News Losses – May 2018

  • 12 June 2018

1.  Wells Fargo & Company – $97.3m

Wells Fargo to pay USD 97.3 million to employees in class action over denied rest breaks.

2.  El Bank – $35.8m

El Bank allegedly defrauded of around RUB 2.2 billion in loans fraudulently issued to shell companies by bank executives.

3.  Société Générale – $26.9m

Société Générale to pay EUR 22.9 million in compensation to Helaba over cum-ex trades tax payment.

4.  LPL Financial Holdings – $25.9m

LPL Financial reaches USD 25.9 million settlement with state securities regulators over sales of unregistered securities.

5. National Bank of Pakistan – $25.8m

National Bank of Pakistan executives arrested over PKR 3 billion letters of credit fraud.

The operational risk year to date

Summary of distribution, frequency and severity of ORX News event digests.

May 2018

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ORX News top five

Each month, the ORX News team publish a round-up of the five largest operational risk loss events recorded in the ORX News database.

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